KEEP HOUSING FUNDING IN BUILD BACK BETTER
Negotiations and progress on enacting Build Back Better legislation have reached an impasse, and Senate opponents to the bill, as written and passed by the House, have indicated they prefer a slimmed down, reduced funding bill.
Consequently, CLPHA has been made aware that funding for housing programs is, once again, at serious risk of being removed from the Build Back Better Act.
In a joint letter sent today, CLPHA and the MTW Collaborative strongly urged President Joe Biden, House Speaker Nancy Pelosi, and Senate Majority Leader Chuck Schumer to maintain investments in the Low-Income Housing Tax Credit program as part of the historic Build Back Better legislation.
CLPHA has joined organizations representing housing authorities and administrators to urge Congress to keep housing funding in the Build Back Better Act.
Housing is at serious risk of being removed from the Build Back Better Act, under consideration in the budget reconciliation negotiations currently underway in Congress and the White House. The negotiations are on a fast track and taking place at the highest levels between the House and Senate leadership, key members of Congress, and the White House.
The House and Senate face a jam-packed agenda upon their return from the August recess with President Biden’s biggest ticket items awaiting immediate action. The window to pass this transformative legislation will not remain open for long.
Fannie Mae and Freddie Mac’s Investment Cap for LIHTC Nearly Doubled to $1.7 Billion